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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #174,881
  • May 4, 2009 11:58am May 4, 2009 11:58am
Quoting malcolmb14
what a day..

really nice double top formationm 149 with a volume and bearish div rsx reason to enter , also ES showed topping out and retrace . i was comfortable taking a small short . i am still bullish and do not see any major retrace till 151.50 is tested.

last time we were in the 148 to 150 zone we bounced around in a 200 pip channel for over a week .

240 pip movement in US ... nice.
on the 60 minute chart right?
"Don't trade to trade . . . trade to win." - James16
  • #174,882
  • May 4, 2009 12:00pm May 4, 2009 12:00pm
Malcomb and Big Bruv
  • #174,883
  • Edited 12:40pm May 4, 2009 12:14pm | Edited 12:40pm
wow! am back..got my virus removed and am reloaded..bulls are in trouble am out here to greedilly take ur pip's...yeah baby..for a start..am seing a 200pips drop on the hrly to 146.25 area screen shot coming up...hello all
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Imanuel Parsifal
  • #174,884
  • May 4, 2009 12:16pm May 4, 2009 12:16pm
Quoting malcolmb14
what a day..

really nice double top formationm 149 with a volume and bearish div rsx reason to enter , also ES showed topping out and retrace . i was comfortable taking a small short . i am still bullish and do not see any major retrace till 151.50 is tested.

last time we were in the 148 to 150 zone we bounced around in a 200 pip channel for over a week .

240 pip movement in US ... nice.
Like I said, before. Range....

We have 3 rate decisions this week (eur, gbp, and aud) as well as bank stress test, and NFP. Can you say choppy?
  • #174,885
  • May 4, 2009 12:16pm May 4, 2009 12:16pm
Quoting Big Bruv
morning pips.

not sure what to make of today's volume..but like i posted earlier...dat 147.50 is short term support..if broken we go to 145.50..but it's just a retrace..so don't get all 'DOOMSDAY' on me...baby...

The trend is up..but to go up..you got to break it down....oh baby
hi BB ..
  • #174,886
  • May 4, 2009 12:22pm May 4, 2009 12:22pm
Quoting Flem26
on the 60 minute chart right?
i tradse off a 5 min , with 15 min as direction .
Blogging daily now at www.volume.zone
  • #174,887
  • May 4, 2009 12:24pm May 4, 2009 12:24pm
Quoting ovaforty
Like I said, before. Range....

We have 3 rate decisions this week (eur, gbp, and aud) as well as bank stress test, and NFP. Can you say choppy?
wasn't aware of rate decisions . . . oh baby . . .
"Don't trade to trade . . . trade to win." - James16
  • #174,888
  • May 4, 2009 12:43pm May 4, 2009 12:43pm
Quoting malcolmb14
i tradse off a 5 min , with 15 min as direction .
malcolmb,

what do you think of the charts now? seems like 148.30 was the topping for now?
  • #174,889
  • May 4, 2009 12:46pm May 4, 2009 12:46pm
Quoting wajid
will it cross 146.96 Resistence

i think now it will bearish
The chart looks like an abstract painting ...
Discipline + Patience - Fear - Greed = Success
  • #174,890
  • May 4, 2009 12:49pm May 4, 2009 12:49pm
Quoting hwsv07
malcolmb,

what do you think of the charts now? seems like 148.30 was the topping for now?
we got a strong resistance saeting at 149.03 on the 4hrly and a couple of more on the daily...already getting a bear presence on my strategy
Imanuel Parsifal
  • #174,891
  • May 4, 2009 12:49pm May 4, 2009 12:49pm
Quoting arezab
The chart looks like an abstract painting ...
I see more green than red on my painting:nerd:
  • #174,892
  • May 4, 2009 12:50pm May 4, 2009 12:50pm
Quoting hwsv07
malcolmb,

what do you think of the charts now? seems like 148.30 was the topping for now?

strong signs of topping coming in now .... this stupid thing should retrace , but it is not.

The 4 hour volume this morning in US session was the highest in the run from 139 , that indicates 1st sign of sellers. It does not mean we will not still move up , as we can see an up move continue with distribution along the way. This is shown on the 2nd chart , how price can still rise with distribution starting in the background.

However now i have seen this 4 hour set up i am ALOT more comfortable trading both ways on a 5 min chart now as the trades show themselves.

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Blogging daily now at www.volume.zone
  • #174,893
  • May 4, 2009 1:02pm May 4, 2009 1:02pm
Quoting forexlion
hi BB ..
maybe i should change my name to double BB......really what the kids come up with now is just ridiculous...baby
  • #174,894
  • May 4, 2009 1:04pm May 4, 2009 1:04pm
Sorry for newbie, I had read somewhere but I forgot. Double BB = Bullish? Double Top = Bearish? Am I right? I better close my long:-) with minor lose I guess.
  • #174,895
  • May 4, 2009 1:12pm May 4, 2009 1:12pm
Quoting Andrew Vu
Sorry for newbie, I had read somewhere but I forgot. Double BB = Bullish? Double Top = Bearish? Am I right? I better close my long:-) with minor lose I guess.
If we are talking top double D is more bullish
  • #174,896
  • May 4, 2009 1:16pm May 4, 2009 1:16pm
Sorry for ignorance. What is DD and BB pls
  • #174,897
  • May 4, 2009 1:17pm May 4, 2009 1:17pm
OMG!!
  • #174,898
  • May 4, 2009 1:17pm May 4, 2009 1:17pm
Quoting Estero
If we are talking top double D is more bullish
Before Double Top is going down, I expect a retracement, then I got out.
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  • #174,899
  • May 4, 2009 1:18pm May 4, 2009 1:18pm
Quoting gillybabe
Sorry for ignorance. What is DD and BB pls
Sorry I was just pulling your leg, I wasn't quite sure what you were refering to?
  • #174,900
  • May 4, 2009 1:32pm May 4, 2009 1:32pm
Quoting Andrew Vu
Before Double Top is going down, I expect a retracement, then I got out.
Yeah been there, that's what happened at my first one.
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